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我的直播即将于 2022-09-26 19:30:00 开始，欢迎围观！

新交所和 EquitiesTracker 举办的新加坡股市交易节上半场刚刚在周末结束。来自 New Academy of Finance 的 Royston 和我上台分享了关于 2022 年的 6 个交易思路。我们从估值、股息和发展势头三个角度各自分享了一个思路。再次声明， 这些只是思路，并不是投资建议。如果您有兴趣，可以进一步探索。Royston 分享了$胜科工业有限公司 (U96.SI)$ 胜科工业 (U96)，表示在剥离胜科海事、转向更环保的 ESG 方向发展后，重组的胜科工业更受机构投资者青睐。此外，$腾飞瑞资房地产投资信托基金 (A17U.SI)$ 腾飞瑞资 (A17U) 作为一只蓝筹房地产投资信托基金，收益率超 5％，拥有数据中心和商业空间等新经济资产，颇具吸引力。发展势头方面，他看好涨势强劲的 The Hour Glass (AGS)。新加坡开放边境后，游客增多，推升门店消费，进一步助长其势头。对此，我则看好$天然煤矿集团 (RE4.SI)$ GeoEnergy (RE4)。这家印尼煤矿公司得益于煤炭价格上涨（较一年前翻了 4 倍）以及对中国出口的增加（澳大利亚与中国贸易关系紧张，停止向其出口煤炭），发展势头正盛。股息方面，我则看好$升菘集团有限公司 (OV8.SI)$ 升菘 (OV8)。升菘是新加坡仅次于职总平价合作社 (NTUC Fairprice) 和 Dairy Farm 的第三大连锁超市。但 Dairy Farm 在削减股息，因此提高股息的升菘表现更优。作为必需消费品股票，增加的成本可能会转嫁给消费者，因此易受通货膨胀影响。当前股息收益率为 4.1%，略高于 5 年平均水平 3.9%。随着股息增长，预计成本收益率将随着时间的推移而增加。最后，在估值方面，我看好$云顶新加坡有限公司 (G13.SI)$ 云顶新加坡 (G13)，并预计它将成为新

1. Special Purpose Acquisition Company (SPAC) has been around for decades but only grown in popularity in recent years. The SPAC fever has died down in the US after a crazy run up in early 2021 and Singapore are now launching the first batch of SPACs on SGX.2. Why SPACs and why now? The economy is undergoing a restructuring - it is becoming more tech-driven and increasingly powered by intangible assets. Singapore have been a hotbed of tech startups but they are not listed on the SGX.3. SGX has lost a couple of big name tech companies who chose to list in overseas markets to tap a wider investor base. For e.g. Sea and Razer. PropertyGuru is merging with a SPAC in the US.4. It is a catch-22 situation whereby if SGX does not have big name listings, it would not be able to attract investors. B

1. I was interviewed on MoneyFM 89.3 this morning about the recent big news involving $IFAST CORPORATION LTD.(AIY.SI)$ iFAST acquiring a digital bank, BFC Bank. I'll repeat some key points here if you are following this development. Link to listen to the interview: https://omny.fm/shows/moneyfm-morning-show/companies-to-watch-ifast-to-obtain-a-banking-licen2. First of all, give some credit to iFAST for taking a big step to becoming a global company. This is the first time iFAST ventured out of Asia and getting a foothold in the UK. It is rare for a Singapore company to go global. Of course, a lot more has to be done to be truly global but who says we can't celebrate every milestone along the way?3. An interesting question asked

1. $DBS GROUP HOLDINGS LTD(D05.SI)$ DBS was hovering near $30 for several months before it broke through it convincingly to $35 currently. What is causing such a strong surge?2. I believe the key reason is the looming rising interest rates. We have experienced numerous talks about this but what makes this time different? Inflation. Despite printing money for the last 13 years, inflation has not crept up until Covid did us a favour to disrupt the supply chain. It became a catalyst for inflation to rise.3. Raising interest rate is almost a sure thing now to curb inflation. The macro environment took a 180 degree turn and banks will benefit from this because their net inter

$1. High growth tech stocks have taken a beating like never before. Compared to the last correction in Feb-Mar 2021, this correction that started in Nov 2021 is deeper than that. Momentum has suggested these trends have been broken and momentum is now on the other direction. $ARK Innovation ETF(ARKK)$ ARK Innovation ETF, as a representative of high growth tech stocks, is down 16% in the last one month while Energy Select SPDR ETF gained 6% in the same period.2. This is likely due to the interest rate increment that is looming and growth stocks' reliance on future value will be worth much less today. On the other hand traditional sectors such as energy, industrials and materials are coming up as they benefit from rising prices.3.

1. Munger almost doubled $Daily Journal(DJCO)$ DailyJournal's investment in $Alibaba(BABA)$ $Alibaba(09988)$ Alibaba based on the latest disclosure. Alibaba is now 28% of Daily Corp's portfolio value. This is one big bet on probably the most targeted company in China right now. Opinions were split if this was a right move among the investors.2. Why did Munger believe in China to such a degree? There could be a few reasons.3. First, Chinese culture aligns with his view of life. He gave an interview with Hong Zhou Kan in 2018 and he shared that Warren Buffett and him, act with Confucian values. Come to think of

1. Just not long ago$TENCENT(00700)$ Tencent announced it was divesting JD and it caused JD share price to tank. Yesterday, Tencent sold $3b worth of$Sea Ltd(SE)$ Sea shares at $208 each. Sea share price dropped 11.4% to $197.84.2. Tencent's stake in Sea has declined from 21.3% to 18.7% after the sale. Tencent will be restricted to sell Sea shares during the next six months. But I believe the divestment will continue thereafter, adding more selling pressure Sea shares.3. This means that Tencent can raise another US$20.52 billion if it eventually divest everything at today Sea's market cap.4. With the current $3b sale in Sea and $16.4b sale in JD.com, Tencent is sitting o

1. The Great Resignation isn't just happening to individuals but Singapore companies too. $KOUFU GROUP LIMITED(VL6.SI)$ management is offering other shareholders $0.77 per share to delist the company. 2. This feels like one of the shortest listings in Singapore considering that Koufu was listed in 2018 at an IPO price of $0.63, just before the World Cup final between France and Croatia. Now they are delisting even before the next World Cup begins.3. The reason for the IPO was to use the proceeds for building the integrated facility in Woodlands, renovating the outlets and expanding the business. $43m was raised for Koufu and the founders sold some stake for $27.5m. The building has since been sold to a third party at aroun

1. $阿里巴巴(BABA)$ $阿里巴巴-SW(09988)$ 阿里巴巴的困境不断出现。在过去的一年里，它比其他中国公司遭受更大的打击。2. 中国网络主播薇娅因逃税被处以创纪录的2.1亿美元罚款。这是一个人，而不是一家公司。是的，据报道她是亿万富翁，应该负担得起罚款，但如此巨额的罚款真是少见。除了罚款，她在淘宝和微博上的账户被暂停了。3. 不止她一个，李佳琦、雪梨等很多主播也被罚款。4. 我认为直播是在电子商务平台上推动销售的有效方式。它比电视广告更有效，更广泛。您可以通过一个按钮直接购买东西。亚马逊也在抄袭。5. 淘宝在中国直播销售中占有60%的市场份额。 薇娅和李佳琦是中国排名前两位的主播。在 2021 年光棍节活动期间，两者的 GMV 均售出 37 亿美元，占总 GMV 的 4.4%。6. 考虑到目前占据主导地位的市场份额，直播的打击对阿里巴巴的伤害将超过任何其他竞争对手。这也将扼杀已经放缓的电子商务增长速度。但每个玩家的也受影响，这可能成为竞争格局中的僵局。7. 第二个影响是对阿里巴巴的云业务。由于阿里巴巴未能报告漏洞，中国政府刚刚暂停了与阿里巴巴作为网络安全威胁情报合作伙伴的合作关系，为期 6 个月。稍后将根据纠正措施重新评估合作伙伴关系的持续性。8. 中国政府已责令国有企业在明年将其数据转移到国家云平台。但政府不太可能运行全新的云基础设施。专家认为，云技术知识仍将由第三方供应商提供。9. 阿里巴巴以38%的市场份额领跑中国云。华为云和腾讯云分别以 17% 和 16.6% 的份额落后。政府和国有企业云业务的任何重大变化都